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The weekly news source for investment management legal and compliance professionals

December 5, 2016

This Week's Issue

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MJW: The SEC Needs More Powerful Enforcement Tools

Record-setting enforcement figures apparently arenít enough. SEC chair Mary Jo White, in one of her final speeches prior to leaving her post before Donald Trump takes the presidential oath of office, advocated a number of amendments to civil and criminal law.
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Beware the CAT: More Scrutiny Likely After Approval of Trading Database Plan

The SEC will soon be able to track trading activity in domestic equity and options markets to within 100 microseconds. Once it is active, the Comprehensive Audit Trail (CAT) will allow the agency to conduct not only more focused investigation of broker-dealers, but also of advisers. The agency recently approved the plan to create this single, comprehensive database, which is expected to be up and running within two years.
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Settlement with Auditing Firm Shows SEC Ongoing Focus on Gatekeepers

A pair of recent settlements between the SEC, an audit firm and the firmís former engagement partner provide increased evidence, if more is really needed, that the agency remains determined to pursue "gatekeepers" Ė accountants, attorneys, consultants and others Ė to ensure compliance among investment advisers.
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